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Oct 16, 2021
10/21
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debt ceiling. raising the debt ceiling. >> thank you for joining the press conference for the i.m.f. world economic outlook. i'm jennifer beckman of the invitation department and i'm joined today by the imf economist. the deputy director of the research department the republics and head of the worl economic studies division. we're going to begin with brief remarks and then we will go to your questions. gita: thank you all for joining this work league on the world economic outlook. the global recovery continues but it's followed by the pandemic. fueled by the highly cranston submersible delta. we call it the global covid-19 death toll has driven close to 9 million and help concerns rebound holding back a full return to normalcy. pandemic outbreaks including global supply chains have resulted in longer than expected supply disruptions feeding and in a quality in many countries. overall, economic prospects have increased and policy trade-offs have become more complex. compared to our july focus the gr
debt ceiling. raising the debt ceiling. >> thank you for joining the press conference for the i.m.f. world economic outlook. i'm jennifer beckman of the invitation department and i'm joined today by the imf economist. the deputy director of the research department the republics and head of the worl economic studies division. we're going to begin with brief remarks and then we will go to your questions. gita: thank you all for joining this work league on the world economic outlook. the...
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Dec 18, 2013
12/13
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all attached to a debt ceiling inquiry. ceiling legislation is the time that brings us all together and get the president's attention, which with this president when it comes to reducing spending is a bit of a challenge. i cannot imagine it being done claim. we will have to see if the house once to add to it as a condition of passing it. host: harry reid and mitch inonnell, up for reelection 2014, yesterday weighing in on the next fight of raising the debt ceiling, which could happen in february when the treasury runs out of money to pay its bills. on the two-your budget deal, the washington times reports this -- there are a group of senators think it aired i daring cuts to retirement pay. post" reportsn on that -- inside the story they say according to house budget aides, it will reduce pay by almost six percent, by a man who enlisted at age 18 and retired age 38. 1.26ng him with one million instead of 1.24. this an issue that could be returned to in january. (this morning. democratic caller. what is on your mind. they did
all attached to a debt ceiling inquiry. ceiling legislation is the time that brings us all together and get the president's attention, which with this president when it comes to reducing spending is a bit of a challenge. i cannot imagine it being done claim. we will have to see if the house once to add to it as a condition of passing it. host: harry reid and mitch inonnell, up for reelection 2014, yesterday weighing in on the next fight of raising the debt ceiling, which could happen in...
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Apr 25, 2011
04/11
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they have to raise the debt ceiling limit. i do think it is likely and probably a good thing that policy-makers are going to try to use this as a way to make some progress in addressing our fiscal problems. one possible thing that is a good thing that could come out of this is ever and agrees to some kind of debt trigger. this is an idea there is a mechanism that would be implemented say after the next election that would cut government spending, reduce tax expenditures to raise more money, if in fact the policy makers have not addressed our deficit problems and the debt load is not moving in the right direction. it is not determining exactly how we're going to address our fiscal problem, but it lays out the goals we're going to try to achieve. if we do not achieve those goals, then we have this mechanism in place. i think it policymakers can agree to something like that, the natural progress, that would be helpful and something good will come out of the state -- out of this breed policymakers have to raise the debt limit unre
they have to raise the debt ceiling limit. i do think it is likely and probably a good thing that policy-makers are going to try to use this as a way to make some progress in addressing our fiscal problems. one possible thing that is a good thing that could come out of this is ever and agrees to some kind of debt trigger. this is an idea there is a mechanism that would be implemented say after the next election that would cut government spending, reduce tax expenditures to raise more money, if...
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Apr 12, 2011
04/11
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host: as far as raising the debt ceiling? caller: taking care of the debt we already have in raising the debt ceiling -- we have to raise it, because it has been raised so many times before that -- that is why there is no money now. the spending has been going on for years. host: here is this, and from twitter. van buren, ark., republican line. caller: raising the debt limit is a horrible idea. this has gotten us nothing but trouble. cutting the spending by far is the best means of getting the debt under control. a couple of billion dollars, i do not think it will handle that. we could see really bad debt with inflation. the american people need to learn the mechanics of our money. do it online or get a book. understand how they are doing this. host: clinton, conn., a democrat line. caller: it is time to do away with corporate welfare. the oil subsidies for the richest companies in the world, the farming subsidies for mass of industrial firms, and other corporate welfare items like that. it is time they stood on their own leg
host: as far as raising the debt ceiling? caller: taking care of the debt we already have in raising the debt ceiling -- we have to raise it, because it has been raised so many times before that -- that is why there is no money now. the spending has been going on for years. host: here is this, and from twitter. van buren, ark., republican line. caller: raising the debt limit is a horrible idea. this has gotten us nothing but trouble. cutting the spending by far is the best means of getting the...
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Apr 25, 2011
04/11
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they have to raise the debt ceiling limit. i do think it is likely and probably a good thing that policy-makers are going to try to use this as a way to make some progress in addressing our fiscal problems. one possible thing that is a good thing that could come out of this is ever and agrees to some kind of debt trigger. this is an idea there is a mechanism that would be implemented say after the next election that would cut government spending, reduce tax expenditures to raise more money, if in fact the policy makers have not addressed our deficit problems and the debt load is not moving in the right direction. it is not determining exactly how we're going to address our fiscal problem, but it lays out the goals we're going to try to achieve. if we do not achieve those goals, then we have this mechanism in place. i think it policymakers can agree to something like that, the natural progress, that would be helpful and something good will come out of the state -- >> you can see this segment in its entirety on our website, c- s
they have to raise the debt ceiling limit. i do think it is likely and probably a good thing that policy-makers are going to try to use this as a way to make some progress in addressing our fiscal problems. one possible thing that is a good thing that could come out of this is ever and agrees to some kind of debt trigger. this is an idea there is a mechanism that would be implemented say after the next election that would cut government spending, reduce tax expenditures to raise more money, if...
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Jul 8, 2011
07/11
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none of us wants to raise the debt ceiling. none of us thinks it's a good idea to spend money we don't have. we think it's a problem that we have been doing it for so long. but we also think that there would be some circumstance under which we would borrow more money. that circumstance is you have to have a real plan, a binding plan that says we will do things differently, that we can be trusted with the taxpayers' money, that we can be trusted to balance the budget. for me that means we have to have an amendment to the constitution. i see no objective evidence that congress is otherwise proving themselves to be trustworthy. we have updated pay-as-you-go and evaded callings. we have not done a good job. -- we have evaded hollings. this is the only path to go. i wanted to show today republicans can be for something. for some reforms and for raising the debt ceiling as long as we get a balanced budget amendment. i would like to introduce senator blunt. >> thank you. i was one of the people that did not want to sign a pledge spot
none of us wants to raise the debt ceiling. none of us thinks it's a good idea to spend money we don't have. we think it's a problem that we have been doing it for so long. but we also think that there would be some circumstance under which we would borrow more money. that circumstance is you have to have a real plan, a binding plan that says we will do things differently, that we can be trusted with the taxpayers' money, that we can be trusted to balance the budget. for me that means we have...
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Oct 7, 2013
10/13
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the government shutdown is bad enough, but failure to raise the debt ceiling would be far worse. and could very seriously damage not only the u.s. economy, but also the entire global economy. you know, people around the world are confused. they're bemutzed, but they're certainly not amused by what is happening in this country because it will affect the global economy if it were to materialize. but i personally have huge trust in policy makers and i hope very strongly they will find a way to resolve this issue. now this is mission critical this be resolved as soon as possible. mission critical. japan, also needs a credible plan to bring down its debt. does any of you know how much is the japanese debt relative to gdp? roughly? what did you say? huh? >>. [ participant off-mic ] >> 250%. pretty good, pretty close. that's roughly $90,000 per capita. each japanese baby was born, not too many of them, unfortunately, that's another issue, is born with a debt burden of $90,000. the initial consumption tax increase i was referring to earlier that has been announced by prime minister abe i
the government shutdown is bad enough, but failure to raise the debt ceiling would be far worse. and could very seriously damage not only the u.s. economy, but also the entire global economy. you know, people around the world are confused. they're bemutzed, but they're certainly not amused by what is happening in this country because it will affect the global economy if it were to materialize. but i personally have huge trust in policy makers and i hope very strongly they will find a way to...
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Jul 30, 2011
07/11
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but it is time -- before that debt ceiling is reached. but it is time to vote on these bills and then get down to the real work of determining what is the best in both that we can pass in both proceedings under the quorum call be dispensed with. the presiding officer: without objection. mr. conrad: mr. president, we are now reaching a critical hour in the congress of the united states on the question of extending the debt limit of the nation and of fundamentally dealing with the debt of the nation. i don't think there is any serious person in either body that does not understand that we must deal with the debt itself as we extend the debt limit. we are borrowing 40 cents of every dollar that we spend. the gross debt of the united states will reach 100% of our g.d.p. by the end of this year. the best economists in the country of whatever philosophical stripe are telling us we're on an unsustainable course that must be changed. mr. president, in the midst of this, we have had the house so far unable to send us a package. now we're told they
but it is time -- before that debt ceiling is reached. but it is time to vote on these bills and then get down to the real work of determining what is the best in both that we can pass in both proceedings under the quorum call be dispensed with. the presiding officer: without objection. mr. conrad: mr. president, we are now reaching a critical hour in the congress of the united states on the question of extending the debt limit of the nation and of fundamentally dealing with the debt of the...
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Feb 10, 2011
02/11
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government will impose a debt ceiling of their own? >> the bankers definitely, but it's really a spending limit, saying you can't spend anymore. you already made decisions about what the government will spend and what revenues it will collect. that implies a deficit that has to be financed. if you set a limit that's too low, that means you can't borrow money you already spent, so it's really extraneous thing. once you set spending and taxes, you are essentially defining how much you have to borrow. if you don't allow the government to borrow that, then, again, the only out way to do that is not to make the required interest payments which your banker wouldn't like that i'm sure. >> correct, sure. or the other alternative is increase revenue or decrease spending so you don't exceed debt; correct? >> sure, sure. >> you just mentioned moments ago it's important to look at a 10 or 20 year horizon. the american people are cynical we're able to do that in such a way that 20 years from now we're still having this same discussion over again, a
government will impose a debt ceiling of their own? >> the bankers definitely, but it's really a spending limit, saying you can't spend anymore. you already made decisions about what the government will spend and what revenues it will collect. that implies a deficit that has to be financed. if you set a limit that's too low, that means you can't borrow money you already spent, so it's really extraneous thing. once you set spending and taxes, you are essentially defining how much you have...
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Jan 18, 2012
01/12
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-- michael capalano about the federal debt ceiling and extending the federal tax cut. [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2012] [captioning or
-- michael capalano about the federal debt ceiling and extending the federal tax cut. [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2012] [captioning or
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Jan 19, 2012
01/12
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. >> i also want to ask you about the vote yesterday in the house about the ceiling of the debt ceiling. the debt ceiling has to be increased, right? >> i will acknowledge it is symbolic. i appreciate the leadership of speaker john boehner. he wanted the issue to be voted on. the senate has not voted on this different legislation we have proposed for creating jobs. but to let the american people know that the republicans are making every effort to try to rein in spending, which now the debt we have exceeds the value of the american economy, over $16 billion. the president's came to the republican congress in february of 2009 and said that the deficit we have, the borrowing we had, was not sustainable. it was $600 billion on the day he was speaking. sadly since that time, even that year, he doubled its to over one hand -- one trillion dollars. his spending since that time truly has put extraordinary debt on the people of our country. >> you mentioned the speaker. mentioned thespea speaker. there is an article say you're one of the 12th bourne's in his side. guest: when he is right, i am
. >> i also want to ask you about the vote yesterday in the house about the ceiling of the debt ceiling. the debt ceiling has to be increased, right? >> i will acknowledge it is symbolic. i appreciate the leadership of speaker john boehner. he wanted the issue to be voted on. the senate has not voted on this different legislation we have proposed for creating jobs. but to let the american people know that the republicans are making every effort to try to rein in spending, which now...
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Apr 19, 2011
04/11
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there will be political, a round of the debt ceiling. -- around the debt ceiling. both sides i think are playing this for all political worth. host:nick in michigan. caller: did the president know and it congress know when they spent the money that it was. to require an increase in the debt ceiling now? did we know that -- that it was going to require an increase in the debt ceiling now? did we know that? guest: the debt ceiling has been raised something like 18 times in the past few years. it has happened on a bickering basis. barack obama -- on a recurring basis. many have used the debt ceiling as a political football. the stimulus package was a down payment on what we ran up spending the last few years. they knew what they patrolling. they probably should have done something different. we have to deal with the hand that has been dealt us. host: independent mind, ed. -- line, ed. caller: i am tired of the infighting going on. we have to stop this class war. we have to save our country. i am 62 years old. i would hate to see us going down this road. host: i want t
there will be political, a round of the debt ceiling. -- around the debt ceiling. both sides i think are playing this for all political worth. host:nick in michigan. caller: did the president know and it congress know when they spent the money that it was. to require an increase in the debt ceiling now? did we know that -- that it was going to require an increase in the debt ceiling now? did we know that? guest: the debt ceiling has been raised something like 18 times in the past few years. it...
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Jul 30, 2011
07/11
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extends the debt ceiling to march 2013, yet reduces the debt by $2.4 trillion. it's a fine piece of legislation. sets up the joint committee to make even further cuts. it will be something we believe and senator mcconnell will acknowledge this strongly as leader pelosi, we could get something out of that. we are waiting for them to do something, anything. move towards us. if that fails, they should go broad bill because -- and that is things they already voted on and things they've agreed to. last question. >> since the debt ceiling increased to 2.4 and increased savings from $2.2 trillion to $2.4 trillion, can you lay out how you do it and factor you used a january baseline, were all of your savings due to the line. >> i told you all before, we laid out all of our numbers. you can dissect them and look at them but this is what the c.b.o. recommended and we followed their advice. thank you. >> earlier tonight in the house bill from speaker boehner passed 218 to 210 with no democrats voting in favor. the bill then moved to the senate where it was blocked 59-41. t
extends the debt ceiling to march 2013, yet reduces the debt by $2.4 trillion. it's a fine piece of legislation. sets up the joint committee to make even further cuts. it will be something we believe and senator mcconnell will acknowledge this strongly as leader pelosi, we could get something out of that. we are waiting for them to do something, anything. move towards us. if that fails, they should go broad bill because -- and that is things they already voted on and things they've agreed to....
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Aug 17, 2011
08/11
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there should be no debt ceiling grid congress votes the debt when it votes -- there should be no debt ceiling. congress votes the debt when it votes expenditures. it is vitally important that the next time this happens, the president is willing to stand up to those who ask for concessions that he or she regards as an acceptable. >> -- as un acceptable. >> they have to be willing to go off a cliff hand in hand with those dastardly republicans. >> you said it, not me. >> it was not a separate vote -- those were peaceful, wonderful years. i think, however -- because people who have a very strong feeling have seen what a powerful vehicle the debt ceiling is, we are going to see it subjected to too many more of these kinds of things -- i remember we got gramm-rudman on the debt ceiling, and we're probably going to see more and more of this in the future before it slows down. maybe when sarah takes us into another cycle of a kinder and gentler times in the congress, we will get over it. in the meantime, i subscribe to pann. 's theory, the one that he describe -- to henry's theory, the one t
there should be no debt ceiling grid congress votes the debt when it votes -- there should be no debt ceiling. congress votes the debt when it votes expenditures. it is vitally important that the next time this happens, the president is willing to stand up to those who ask for concessions that he or she regards as an acceptable. >> -- as un acceptable. >> they have to be willing to go off a cliff hand in hand with those dastardly republicans. >> you said it, not me. >>...
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Sep 21, 2021
09/21
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craven lay set republicans are united in opposition to raising the debt ceiling. shame. the same leader mcconnell urged democrats and republicans to support raising that ceiling when trump was president and he was majority leader. he always comes up with some sophistry as to why it's different, but everyone knows it's not friend. in fact, democrats supported re-time is raising the debt ceiling when trump was president and if my recollection is right, at least one of those times was when the house, the senate, and the presidency were controlled by republicans. should republicans careen the country towards default, the country could actually be plunged into recession, laying off millions. making it hard for people to pay for the food on the table, their mortgage and their rent. shame. host: here is the republican leader, mitch mcconnell, on the floor talking about raising the debt ceiling. [video clip] >> we do not have divided government. democrats do not eat our help. they have every tool to address the debt limit on their own, the same partyline process that used
craven lay set republicans are united in opposition to raising the debt ceiling. shame. the same leader mcconnell urged democrats and republicans to support raising that ceiling when trump was president and he was majority leader. he always comes up with some sophistry as to why it's different, but everyone knows it's not friend. in fact, democrats supported re-time is raising the debt ceiling when trump was president and if my recollection is right, at least one of those times was when the...
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Jan 21, 2023
01/23
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she talked about the debt ceiling debate and women's reproductive rights. this is just under one hour. >> hello, good afternoon, everybody. happy friday. let me get right to it. today we have john kirby in the room from the national security council who is going to be talking about a couple of products and announcements from our national security space. the room is yours, and then i will come back and take questions. thank you, everybody. >> good afternoon, everybody. today i want to take a little bit of time to discuss new actions we are going to be taken -- taking to counter the russian military company called wegner. first, i went to provide additional information about their operations in ukraine. as his military continues to struggle in ukraine president putin is increasingly turning to wagner for military support. we are seeing indications including an intelligence that tensions between wagoner -- wagner and military defense is increasing. it is becoming a power center. it's fighters have criticized russian generals for their performance on the battle
she talked about the debt ceiling debate and women's reproductive rights. this is just under one hour. >> hello, good afternoon, everybody. happy friday. let me get right to it. today we have john kirby in the room from the national security council who is going to be talking about a couple of products and announcements from our national security space. the room is yours, and then i will come back and take questions. thank you, everybody. >> good afternoon, everybody. today i want...
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Jan 15, 2013
01/13
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ceiling, and your own history on the debt ceiling. and doesn't that suggest that we are going to go into a default situation because no one is talking to each other about how to resolve this? >> well, no, major, i think if you look at the history, getting votes for the debt ceiling is always difficult, and budgets in this town are always difficult. i went through this just last year. but what's different is we never saw a situation as we saw last year in which certain groups in congress took such an absolutist position that we came within a few days of defaulting. and the fact of the matter is, is that we have never seen the debt ceiling used in this fashion, where the notion was, you know what, we might default unless we get 100 percent of what we want. that hasn't happened. now, as i indicated before, i'm happy to have a conversation about how we reduce our deficits further in a sensible way. although one thing i want to point out is that the american people are also concerned about how we grow our economy, how we put people back to
ceiling, and your own history on the debt ceiling. and doesn't that suggest that we are going to go into a default situation because no one is talking to each other about how to resolve this? >> well, no, major, i think if you look at the history, getting votes for the debt ceiling is always difficult, and budgets in this town are always difficult. i went through this just last year. but what's different is we never saw a situation as we saw last year in which certain groups in congress...
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Jan 21, 2023
01/23
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i mentioned 78 times that the debt ceiling has been dealt with. three times in the last administration. this should be done without conditions and we should not be negotiating around it. this came from mitch mcconnell who said america must never default on its debt. another neal bradley, you are talking about wiping out the very on deepening -- underpinning of the u.s. economy. they're trying to hold programs that are critical to our veterans and seniors because they're trying to play political games and that is the thing the president will continue to call out. thank you, everybody.
i mentioned 78 times that the debt ceiling has been dealt with. three times in the last administration. this should be done without conditions and we should not be negotiating around it. this came from mitch mcconnell who said america must never default on its debt. another neal bradley, you are talking about wiping out the very on deepening -- underpinning of the u.s. economy. they're trying to hold programs that are critical to our veterans and seniors because they're trying to play political...
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Jan 20, 2023
01/23
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i mentioned 78 times that the debt ceiling has been dealt with. three times in the last administration. this should be done without conditions and we should not be negotiating around it. this came from mitch mcconnell who said america must never default on its debt. another neal bradley, you are talking about wiping out the very on deepening -- underpinning of the u.s. economy. they're trying to hold programs that are critical to our veterans and seniors because they're trying to play political games and that is the thing the president will continue to call out. thank you, everybody. >> friday at 8 p.m. eastern c-span brings you afterward for book to be. nonfiction authors are interviewed on their latest book tonight washington post columnist examines the effect on future generations. watch afterwards tonight at 8:00 eastern on c-span. >> 10 days after 9/11, defense intelligence agency analyst was arrested by the fbi on espionage charges for passing along information to the government of cuba a crime for which she was sentenced to 25 years in pris
i mentioned 78 times that the debt ceiling has been dealt with. three times in the last administration. this should be done without conditions and we should not be negotiating around it. this came from mitch mcconnell who said america must never default on its debt. another neal bradley, you are talking about wiping out the very on deepening -- underpinning of the u.s. economy. they're trying to hold programs that are critical to our veterans and seniors because they're trying to play political...
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Apr 18, 2014
04/14
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it comes and he'd like to know, why not define debt ceiling to e the ratio of debt to g.d.p.? >> the fundamental problem -- this is just a general thing. people believe if they could only come up with some great rule, they could stop people from doing stuff they don't like. we just have to -- first of all, you can never get the rule because the other side understands what you're doing. they're like, no, you can't have the rule. the second problem with this specific thing is that there's always going to be an outstanding emergency. we declare war on iceland once a year and then we give them a plan and we've gone right back. there's always ways to gimmick these budget rules. our job is to tell politicians no, don't borrow any more money, cut spending and by the way, i really -- this is something i think the republican party really needs to do is say, when you spend money, that is borrowing it, ok? the decision to spend is the decision ultimately to borrow and then the decision to tax. and george bush totally elighted the fact that when he spent money he was going to have to pay
it comes and he'd like to know, why not define debt ceiling to e the ratio of debt to g.d.p.? >> the fundamental problem -- this is just a general thing. people believe if they could only come up with some great rule, they could stop people from doing stuff they don't like. we just have to -- first of all, you can never get the rule because the other side understands what you're doing. they're like, no, you can't have the rule. the second problem with this specific thing is that there's...
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Oct 19, 2013
10/13
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we all call on congress to raise our nation's debt ceiling and avoid this default. we urge congress to put an end to this hostile climate of uncertainty and brinkmanship. it is time to move our country forward, not jeopardize the hard work and the progress we have only together. at the end of the day, elected officials have a stake in preserving our free-market economy and our american way of life. negotiations, whether they are motivated by profit or politics, achieve their highest possible success when we recognize that cooperation works much better than conflict and solidarity will always outlast isolation and that our differences do not outweigh our common interests. thank you very much. thank you very much. >> thank you. >> next, we will hear from ian kramer. ian is the executive director of leaders engaged on alzheimer's disease. >> thank you. thank you for the opportunity to be here today. this is not a happy day. this is a day where we all sighed in relief that the circular firing squad said, ready, aim, and held its breath. this crisis is not over. all it i
we all call on congress to raise our nation's debt ceiling and avoid this default. we urge congress to put an end to this hostile climate of uncertainty and brinkmanship. it is time to move our country forward, not jeopardize the hard work and the progress we have only together. at the end of the day, elected officials have a stake in preserving our free-market economy and our american way of life. negotiations, whether they are motivated by profit or politics, achieve their highest possible...
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Dec 21, 2013
12/13
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on the debt ceiling your treasury secretary has estimated that the u.s. government will lose its ability to pay its bills come late february or early march. house budget committee chairman, paul ryan, said the republicans are going to decide what it is they can accomplish on this debt limit fight. willing to negotiate with house republicans on the debt ceiling. >> you know the answer to this question. we are not going to negotiate for congress to pay bills that it's accrued. i want to emphasize the positive as we enter into this holiday season. i think congressman ryan and senator murray did a good job in trying to narrow the differences and actually pass a budget that i can sign. it's not everything that i would like, obviously. it buys back part of these across-the-board cuts, the so-called sequester, but not all of them, we are still underfunding research, we are still underfunding education, we are still underfunding transportation and other initiatives that would create jobs right now, but it was an honest conversation. they operated in good faith. a
on the debt ceiling your treasury secretary has estimated that the u.s. government will lose its ability to pay its bills come late february or early march. house budget committee chairman, paul ryan, said the republicans are going to decide what it is they can accomplish on this debt limit fight. willing to negotiate with house republicans on the debt ceiling. >> you know the answer to this question. we are not going to negotiate for congress to pay bills that it's accrued. i want to...
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Jan 17, 2013
01/13
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as a very practical matter, if we go over the debt ceiling, we do not increase the debt ceiling, republicans will not win the debate. they will argue they are not increasing it because they do not want to control spending but they will not win the debate. what will happen is the white house will pay with cash flow of the interest on the debt. the debt will not be called. what they might not pay our social security checks. the moment the american citizen figures out they may not go out, the game is over. tenfold. because believe me, though congress can stand up to the senior lobby. so that is not a legitimate process to take the debt ceiling as the hostage. the appropriate goal, whether the debate should occur. the president gets to talk about the faults. he gets to talk about social security. we should be talking about spending. spending restraints. where is the logical place to do this? the logical place is on the sequestered. that is where the next pressure point should be. we should have the debate over how much spending should be restrained and how it should be restrained. the sequester
as a very practical matter, if we go over the debt ceiling, we do not increase the debt ceiling, republicans will not win the debate. they will argue they are not increasing it because they do not want to control spending but they will not win the debate. what will happen is the white house will pay with cash flow of the interest on the debt. the debt will not be called. what they might not pay our social security checks. the moment the american citizen figures out they may not go out, the game...
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Dec 5, 2011
12/11
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there was a question of how much we would have to lift the debt ceiling. the concern that our organization and many others have is that even if you save that much, it is not nearly enough to get on top of the problem, and we know you need savings of two to three times that much just to stabilize the debt. so it is not growing faster than the economy. you can think about your credit card bill not growing faster than during come. we urge them to come up with a big deal, because both, economically, it is unnecessary, but politically, it actually seems easier. it is very difficult for democrats -- they are not going to say we're doing another bill that is all spending cuts. and republicans are not willing to talk about new revenues unless they're tied with significant reforms and entitlements. and so when we look at what kind of deal might work, it seemed that putting everything on the table and fixing the problem as much as possible is more likely to succeed in these incremental changes. so we urged them to go big. i think a lot of them wanted to. i think if
there was a question of how much we would have to lift the debt ceiling. the concern that our organization and many others have is that even if you save that much, it is not nearly enough to get on top of the problem, and we know you need savings of two to three times that much just to stabilize the debt. so it is not growing faster than the economy. you can think about your credit card bill not growing faster than during come. we urge them to come up with a big deal, because both,...
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May 22, 2011
05/11
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is going on about do we raise the debt ceiling? again. let me tell you what the cain doctrine would be. we ain't raising the debt ceiling. we are going to cut the spending. it's call reduce. so look at the facts. don't just listen to the rhetoric. look at the facts. the stuff is not working. it's not working. so the only thing that i can conclude is it's time to get real, folks. it's time to get real. hope and change ain't working. hope and change is not a solution. hope and change is not a job. hope and change is not a new business. hope and change is not a vision. we need a new vision in this country. and that means we need a new person leading this nation in the white house. [cheers and applause] it ain't working. i want to ask you a few questions. is america ready for real results? is america ready for common sense solutions? is america ready to rekindle the spirit of america? and is america ready for a real leader, not a reader? [cheers and applause] you want a leader? or you want a reader? now, since -- [chanting] i know it took som
is going on about do we raise the debt ceiling? again. let me tell you what the cain doctrine would be. we ain't raising the debt ceiling. we are going to cut the spending. it's call reduce. so look at the facts. don't just listen to the rhetoric. look at the facts. the stuff is not working. it's not working. so the only thing that i can conclude is it's time to get real, folks. it's time to get real. hope and change ain't working. hope and change is not a solution. hope and change is not a...
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May 16, 2023
05/23
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find common ground as republicans continue to push for spending cuts in any increase to the debt ceiling. earlier today, the treasury secretary sent a letter to congressional leaders warning the u.s. remains in the position to default on its debt as early as june 1 if congress does not act. c-span will be following the debt limit talks as day unfolds and bring you any updates or public statements from those directly involved. >> a healthy democracy doesn't just look like this. it looks like this. where americans can see democracy at work. where citizens are truly informed. our republic thrives get informed straight from the source on c-span. unfiltered, unbiased, word for word. from the nation's capital to wherever you are. the opinion that matters the most is your own. this is what democracy looks like. c-span, powered by cable. >> now and discussion on u.s. relations featuring washington's former ambassador to brazil. he highlighted the importance to latin america's largest economy to the u.s. as well as the role of china, the nation's top trading partner for nearly 15 years. nation's
find common ground as republicans continue to push for spending cuts in any increase to the debt ceiling. earlier today, the treasury secretary sent a letter to congressional leaders warning the u.s. remains in the position to default on its debt as early as june 1 if congress does not act. c-span will be following the debt limit talks as day unfolds and bring you any updates or public statements from those directly involved. >> a healthy democracy doesn't just look like this. it looks...
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Apr 10, 2011
04/11
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the debt ceiling. we are bumping up against a $14 ceiling.that -- debrt we believe it is -- it is imperative that we turn off the credit card. whether it is a balanced budget amendment or the repeal of obamacare or the two year budget cycle, all of the things you don't need to be done to reduce spending coming out of -- all of the things you know need to be done to reduce spending coming out of washington. when you look to our leadership and what we are doing, take them all together. only when you take them all together can you see the old leadership our conference is bringing in the way of policy. i want to mention the health care debate. as a physician, one of the things that drove me into public service is the disaster of health care. there is a wonderful principaled solution that we can put into place that solves the challenges and make sure you solve the problem of lawsuit abuse. we can do all these things as a country without putting the federal government in charge of anything, not a thing. they
the debt ceiling. we are bumping up against a $14 ceiling.that -- debrt we believe it is -- it is imperative that we turn off the credit card. whether it is a balanced budget amendment or the repeal of obamacare or the two year budget cycle, all of the things you don't need to be done to reduce spending coming out of -- all of the things you know need to be done to reduce spending coming out of washington. when you look to our leadership and what we are doing, take them all together. only when...
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Dec 19, 2013
12/13
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i hope that the debt ceiling will be raised. i tried to remind people that raising the debt ceiling is simply fulfilling the obligations that were approved in the budget. it is not as though -- the opportunity to have that debate is as you are going to be budget office. it is the same as a credit card. when you run up a credit card, you have to pay the bill. it is not appropriate to try to use that as leverage. let's just pay our bills on time. >> there will be no negotiating on the debt limit whatsoever? >> we have a lot of twitter questions coming in. one has to do with the trade deals that i presume would be a big part of the obama agenda in the second term. this one regards the transatlantic trade partnership. but should financial services be a part of that? the europeans want it to end. why not include financial services in order to get it passed? >> they would be included in terms of access. that is an important part of this. what we have been saying is that terms of regulations, the treasury department is leading that ini
i hope that the debt ceiling will be raised. i tried to remind people that raising the debt ceiling is simply fulfilling the obligations that were approved in the budget. it is not as though -- the opportunity to have that debate is as you are going to be budget office. it is the same as a credit card. when you run up a credit card, you have to pay the bill. it is not appropriate to try to use that as leverage. let's just pay our bills on time. >> there will be no negotiating on the debt...
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May 16, 2023
05/23
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ceiling. earlier today treasury secretary janet yellen sent a letter to congressional leaders morning at the u.s. remains in a position to default on its debt as early as june 1 if congress does not act. c-span will be following the debt limit talks as the day unfolds and bring you any updates or public statements from those directly involved. ♪ c-spanshop.org is c-span's online store. browse latest collection of c-span products, apparel, books, home decor, and accessories. there is something for every c-span fan. every purchase helps support our nonprofit operations. shop at c-spanshop.org. >> order your copy of the 118th congressional directory now available at c-span shop.org. it is your access to the federal government with bio and contact information for every house and senate member and important information on congressional committees, the president's cabinet, federal agencies, and state governors. scan the code at the right to order your copy today or go to c-span shop.org. it is $29
ceiling. earlier today treasury secretary janet yellen sent a letter to congressional leaders morning at the u.s. remains in a position to default on its debt as early as june 1 if congress does not act. c-span will be following the debt limit talks as the day unfolds and bring you any updates or public statements from those directly involved. ♪ c-spanshop.org is c-span's online store. browse latest collection of c-span products, apparel, books, home decor, and accessories. there is something...
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Nov 24, 2013
11/13
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could you give me a sense for how you think about the debt ceiling. is there a scenario or metric you look at that says it's long call to raise it now? what would be the scenario and what would be the indicator you're not in that position? >> the important thing to remember about the debt ceiling is it is at the very end of all the decisions that have been made. congress has appropriated money, entitlement programs have been established, revenue rules have been set. in the end, the debt limit comes after all ethe policy has been made. so there really is no alternative but to raise the debt limit when you need to borrow in order to pay the bills. there can be a full throated debate about what our policy should be on any of those other areas but there cannot be a question, once we've made commitments as a government, that we keep our commitments. it can't be that we have contractors who have done work and then we say we won't pay them. it can't be that we have people who have benefits that they're entitled to but don't get paid. the full faith and credi
could you give me a sense for how you think about the debt ceiling. is there a scenario or metric you look at that says it's long call to raise it now? what would be the scenario and what would be the indicator you're not in that position? >> the important thing to remember about the debt ceiling is it is at the very end of all the decisions that have been made. congress has appropriated money, entitlement programs have been established, revenue rules have been set. in the end, the debt...
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Aug 10, 2011
08/11
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debt ceiling. rating agencies put a negative outlook on the u.s. long-term debt and some pronent instors made widely noted moves to reduce their exposures to u.s. treasuries. we go now to our financial correspondent adam dell who joins us from new york. adam, what can you tell us? >> i can report now that two of the three credit rating agencies hav issued public statements today warning tt the current trajectory of the u.s. economy is cause for concern from their per secretive. >> what -- perspective. >> what promised this -- what prompted this move from the rating agencies? >> it's a look at the u.s. economy as we're headed towards what looks like a deep recession before we've gotten back to r feet from the last recession. it's also about risk posed. and consumer spending is expected to fall sharply and next as gasoline prices eat into household budgets. u. businesses will suffer as well, shipping and logistics companies, airlines, and some of the automakers, just some of the industries that respond to a spike like this. >> as the industries suffe
debt ceiling. rating agencies put a negative outlook on the u.s. long-term debt and some pronent instors made widely noted moves to reduce their exposures to u.s. treasuries. we go now to our financial correspondent adam dell who joins us from new york. adam, what can you tell us? >> i can report now that two of the three credit rating agencies hav issued public statements today warning tt the current trajectory of the u.s. economy is cause for concern from their per secretive. >>...
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Jul 15, 2013
07/13
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october, perhaps debt ceiling in november. there's no clear path toward resolution of either of those at that point. how much of a risk do you think that poses to the economic recovery in addition to coming on top of the fiscal situation in the second quarter? >> well, as we saw a couple years ago in terms of confidence in markets and business people trying to make investment decisions and the like, those kinds of high uncertainties, the so-called "fiscal cliff," cannot be helped. it is just something that can inject more uncertainty into a group of consumers or investors that are already asking a lot of questions about the underlying strength of the economy. >> this is a twitter question, but i also want this on my list, your view on the bernanke effort to bring more transparancy to the financial situation? his communication with the general public -- public, do you think that has been a positive thing? do you think the feds could communicate better with the public? >> let's think about this as citizens. what were the reasons
october, perhaps debt ceiling in november. there's no clear path toward resolution of either of those at that point. how much of a risk do you think that poses to the economic recovery in addition to coming on top of the fiscal situation in the second quarter? >> well, as we saw a couple years ago in terms of confidence in markets and business people trying to make investment decisions and the like, those kinds of high uncertainties, the so-called "fiscal cliff," cannot be...
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May 26, 2011
05/11
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the arment that this administration is making that there will be disaster of the debt ceiling is not raised its going to send the wrong message to the world it's not takin hold with the american people. why is that? >> because they never lived through i. nobody knows what will happen. i don't think in a lot of these areas pulling c be useful, but they can't be paralyzed because in the end people hire the president and the converse to win for them coming and to win for america, and a lot of the most important things i did as president or on popular. 80% of the people were against the mexican bailout, 74% were against bringing troops home, majority were against what we did in bosnia and kosovo when we did it. lots of other things in helping brazil and the things we did in america on the economy were not wildly popular. but i think you have to make these decisions based on where you think the end will bring you out. of crse if the end doesn't bring you out for a decade then your toast. but we have elections every two years it's impossible to guarantee the results for all of these struct
the arment that this administration is making that there will be disaster of the debt ceiling is not raised its going to send the wrong message to the world it's not takin hold with the american people. why is that? >> because they never lived through i. nobody knows what will happen. i don't think in a lot of these areas pulling c be useful, but they can't be paralyzed because in the end people hire the president and the converse to win for them coming and to win for america, and a lot...
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Jul 11, 2011
07/11
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you see, i believe we have a debt crisis, not a debt ceiling vote crisis. if we increase the debt ceiling without beginning to solve the debt problem we did not avert the economic disaster. we accelerated the disaster. i understand we're into a corner and we cannot balance our budget without completely collapsing our fragile economy. i get it. but i also get we were sent here to make adult choices. this is a bipartisan problem. we all point fingers at each other but we all know both parties made promises with no plan to pay for it. so since we know that, why don't we also agree to a bipartisan solution. i heard 100 times since i've been here, we need a balanced approach to solving this problem. well, let me tell you, i agree. we do need a balanced approach. a balanced budget amount approach. that is the first -- amendment approach. that's the first big step to getting us back in the balance. permanently. the constitution is not a republican or democrat document. you can't make changes to the constitution without both parties engaged, but if both parties act
you see, i believe we have a debt crisis, not a debt ceiling vote crisis. if we increase the debt ceiling without beginning to solve the debt problem we did not avert the economic disaster. we accelerated the disaster. i understand we're into a corner and we cannot balance our budget without completely collapsing our fragile economy. i get it. but i also get we were sent here to make adult choices. this is a bipartisan problem. we all point fingers at each other but we all know both parties...
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Dec 22, 2011
12/11
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again, the debt ceiling -- the willingness to go through a debt ceiling showdown every three or six months i think makes clear that their concern about -- the stated concern about uncertainty is suspicious to say the least. republicansalso -- overwhelmingly supported the temporary bush tax cuts, right? so this is a real-world impact. this is not an esoteric exercise. it's not a political exercise. it's a bill that would either provide americans with an extra $40 per paycheck or take it away. and americans who live paycheck to paycheck and americans who are doing a little bit better th that and saving a little bit will have to change their budgeting next year if the house walks away from this bipartisan compromise that 80 percent of senate republicans support butor some reason the house republican leaders don't. >> so the president and the administration believes, then, that a year from now those taxpayers that you referenced will be able to handle that $40 hit in their paychecks? >> well, the are a lot of things that -- there's a lot of water to pass under the bridge economically between n
again, the debt ceiling -- the willingness to go through a debt ceiling showdown every three or six months i think makes clear that their concern about -- the stated concern about uncertainty is suspicious to say the least. republicansalso -- overwhelmingly supported the temporary bush tax cuts, right? so this is a real-world impact. this is not an esoteric exercise. it's not a political exercise. it's a bill that would either provide americans with an extra $40 per paycheck or take it away....
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Dec 13, 2009
12/09
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>> the reason for raising the debt ceiling is something that senator gregg knows a lot about. there is a lot of unrest about -- among democrats to address this issue in coming years because we are drowning in a sea of debt. i will ask senator gregg to talk about the proposal that the democrats are resisting. >> i have read that they want to raise the debt ceiling to 1.9 trillion dollars. >> it is kind of like drunken sailors not wanting the bar to close. these people are spending like drunken sailors. they are not being accountable to the american people. as a result, in order to avoid any decision that would make them accountable, they are trying to push that off into the future. we would like to have four issues raised. we would like to terminate tarp. this has become a piggy bank for spending. remember, all tarp funding are going to things that will not be repaid. we believe that the stimulus package spending should be of rescinded because it is well past the recession and we are walking around with money many that were able to not spend the money. we believe that there sho
>> the reason for raising the debt ceiling is something that senator gregg knows a lot about. there is a lot of unrest about -- among democrats to address this issue in coming years because we are drowning in a sea of debt. i will ask senator gregg to talk about the proposal that the democrats are resisting. >> i have read that they want to raise the debt ceiling to 1.9 trillion dollars. >> it is kind of like drunken sailors not wanting the bar to close. these people are...
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Dec 11, 2012
12/12
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the debt ceiling negotiations? wasn't that one of the items on the table that the president had already agreed to? $100 billion -- >> again, i don't have the specifics for the different generations here. but time has passed and there's been some impacts on the medicaid program that change our calculations on this. but we're not talking about a sizable portion of the proposed specific proposed savings from health care entitlements or overall savings from mandatory indictment programs. and -- entitlement programs and we would find our savings, we will propose other savings to make up for the difference. the fact is that the vast majority of these proposed savings account for a higher degree of specificity than we have seen by far from the republicans. and -- going back to the revenue side of this we've seen exactly no specificity from the republicans except for a vague promise of an insufficient number, $800 billion in revenue, gleaned from unnamed cap deductions. so if the issue is where are your proposals, i think
the debt ceiling negotiations? wasn't that one of the items on the table that the president had already agreed to? $100 billion -- >> again, i don't have the specifics for the different generations here. but time has passed and there's been some impacts on the medicaid program that change our calculations on this. but we're not talking about a sizable portion of the proposed specific proposed savings from health care entitlements or overall savings from mandatory indictment programs. and...
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Aug 18, 2011
08/11
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when you look of this debacle with the debt ceiling. there realize that our politics and engaging in potentially seeing the fault of the united states of america, that has no place and how we move forward together. this country is offering up a common ground. when we are divided, we end up having a whole lot of self convicted problems. the economy has gotten better than 15 first step office. we have seen over 2 million private sector jobs created. we still have a long way to go. it is urgent for us to make sure that we are joining together. your thinking about the country first. that is the message that we need to send to washington. there are some things we could be doing right now to put them back to work. of the last several weeks, i've been talking about it is still things we need to do. there is no reason why we should not extend a payroll tax cuts. they have more money to spend. businesses have more customers. the economy grows. we could renew their right now to give businesses the certainty that they will have customers next year
when you look of this debacle with the debt ceiling. there realize that our politics and engaging in potentially seeing the fault of the united states of america, that has no place and how we move forward together. this country is offering up a common ground. when we are divided, we end up having a whole lot of self convicted problems. the economy has gotten better than 15 first step office. we have seen over 2 million private sector jobs created. we still have a long way to go. it is urgent...
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Jun 17, 2011
06/11
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we're debating raising the debt ceiling! and what's the debt ceiling? that's the right to give congress the authority to borrow more money it doesn't have and keep spending money. what's your opinion on raising the debt ceiling? >> no! >> i knew i was going to like you. i knew it before i walked in here. did you know in the last ten years, congress has raised the debt ceiling ten times. i have been in washington three terms and in that time, we have been asked to raise the debt ceiling about a half dozen times. every time i voted no on raising the debt ceiling,, and right now i will be voting no again because there are no serious cuts. there's only smoke and mirrors. washington, d.c., that game is over. it's over. because do you know -- if you have a dollar in your pocket. take it out. you probably don't. the government is trying to take it out. if you have a dollar, take it out. hold it up. take a good look at that dollar bill, because i want to tell you something, and i know we're getting towards suppertime here and i don't want to diminish your appet
we're debating raising the debt ceiling! and what's the debt ceiling? that's the right to give congress the authority to borrow more money it doesn't have and keep spending money. what's your opinion on raising the debt ceiling? >> no! >> i knew i was going to like you. i knew it before i walked in here. did you know in the last ten years, congress has raised the debt ceiling ten times. i have been in washington three terms and in that time, we have been asked to raise the debt...
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Jun 15, 2011
06/11
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guest: we need to extend the debt ceiling. we're going to extend the debt ceiling. speaker boehner has made that clear. i think the president has made that very clear. we are going to extend the debt ceiling. best way to do it would be -- i think, just do with, regardless of whether we have a deal on the budget, but that is not going to be possible. the best combination would be a long-term budget agreement that allows were credible plan to reduce the federal deficit. with enforcement, that would be this -- the best scenario. if we cannot reach that agreement, we will probably go to what is called the dumping, a slower version of the agreement, in the range of around $2 trillion over 10 years. that is not enough to manage the deficit, but it is a first step. one of those eight alternatives will emerge -- one of those alternatives will emerge. host: it it would be a short- term -- past the hour it could get past elections, but it would not be a comprehensive, 10-year plan. host: raise the debt ceiling -- guest: for 10 years and then have another agreement that would
guest: we need to extend the debt ceiling. we're going to extend the debt ceiling. speaker boehner has made that clear. i think the president has made that very clear. we are going to extend the debt ceiling. best way to do it would be -- i think, just do with, regardless of whether we have a deal on the budget, but that is not going to be possible. the best combination would be a long-term budget agreement that allows were credible plan to reduce the federal deficit. with enforcement, that...
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Sep 5, 2013
09/13
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we will talk about the effect on the debt ceiling. later, jeffrey mann will give us -- jeffrey mankoff. 8:33 a.m. politico reports that the house and maybe even the senate would not approve the military strike if the film were held today. the top leader in each chamber is doing little to overcome surprisingly unconvincing private briefings by the white house, state department, and pentagon. there is word of a possible oval office address on syria from calico -- from politico. a speech of some kind is under in that -- under consideration. this quote from house minority whip "in the next two months, the most unpopular institution in america -- the house -- will decide the fate of a president's power, the budget, health care implementation, the federal reserve chairmanship, and illegal immigrants." he goes onto say that in 33 years we have never come back from a summer break with the number of important issues that we will confront over the next 90 to 120 days. next monday,rns september 9, watch live house coverage on c-span. the senate
we will talk about the effect on the debt ceiling. later, jeffrey mann will give us -- jeffrey mankoff. 8:33 a.m. politico reports that the house and maybe even the senate would not approve the military strike if the film were held today. the top leader in each chamber is doing little to overcome surprisingly unconvincing private briefings by the white house, state department, and pentagon. there is word of a possible oval office address on syria from calico -- from politico. a speech of some...
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May 29, 2011
05/11
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i urge congress to commit to responsible increases in the debt ceiling. as i conclude, i with like to share one of the central lessons i have drawn from my experience as chairman. the most important attribute of effective regulation is the courage to stand firm against weak practices and excessive risk-taking in good times. it is during prosperity that the seeds of crisis are some. it is then that overwhelming pressure is placed on regulators to relax standards and allow higher concentrations of risks. the history of the crisis shows many examples of when regulators acted too late or with not enough conviction may fail to use the authority they had or failed to ask for the authorities they needed to fulfill their mission. as the crisis developed, many in the regulatory committee remained behind the curve in addressing the dangers. regulators are never going to be popular or glamorous whether they are to make timely manner or fail to act. the best they can hope to achieve is the knowledge that they exercised trust in good faith in the interest of financial
i urge congress to commit to responsible increases in the debt ceiling. as i conclude, i with like to share one of the central lessons i have drawn from my experience as chairman. the most important attribute of effective regulation is the courage to stand firm against weak practices and excessive risk-taking in good times. it is during prosperity that the seeds of crisis are some. it is then that overwhelming pressure is placed on regulators to relax standards and allow higher concentrations...
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Apr 20, 2011
04/11
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my question is, why has the president waited until the last second until we reached our debt ceiling to even address this issue? he has not even pass a budget with a preoccupation of other .lants an estimated $5 trillion or $6 trillion since he came into office and is just now becoming an issue? i totally agree with paul ryan -- not that i totally agree with paul ryan's plan. there are some issues there, but at least there was ever to see something accomplished. >> i want to remind viewers that tonight we will see president obama at a town hall event here at facebook headquarters at silicon valley at 10:40 p.m. eastern time on c-span2. you can also see that at c- span.org. a call from lakeland, florida. valerie. >> my name is valerie and i would just like to point out that when president obama became president, we were already going downhill. there was one gentleman that spoke of not having a business person. most business people that i know that would have been going through the same thing would have basically just cut their bottom people and they would have been out of a job. presi
my question is, why has the president waited until the last second until we reached our debt ceiling to even address this issue? he has not even pass a budget with a preoccupation of other .lants an estimated $5 trillion or $6 trillion since he came into office and is just now becoming an issue? i totally agree with paul ryan -- not that i totally agree with paul ryan's plan. there are some issues there, but at least there was ever to see something accomplished. >> i want to remind...
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Feb 12, 2011
02/11
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we should not raise the debt ceiling. [applause] we should pass a constitutional amendment to finally balance the budget. [applause] here is one i know you agree with. we should repeal obama care. [applause] while we are at it, let's do one more thing. let's through the tax code overboard. [applause] let's start that last one by doing this -- i do not mean any offense to you personally on this one, shawn -- but let's require under penalty of perjury that every member of congress complete their own tax returns without the help of a tax preparer, accountant, or lawyer. [applause] let them experience fully first- hand the moronic, burdensome, intimidating piece that our tax system has become. -- intimidating beast that our tax system has become. [applause] here is another common-sense principle from the heartland that president obama clearly needs to learn. it is best -- people spend money differently if this is their own money. -- if it is their own money. maybe in your busy life you have time to read papers, go to seminars
we should not raise the debt ceiling. [applause] we should pass a constitutional amendment to finally balance the budget. [applause] here is one i know you agree with. we should repeal obama care. [applause] while we are at it, let's do one more thing. let's through the tax code overboard. [applause] let's start that last one by doing this -- i do not mean any offense to you personally on this one, shawn -- but let's require under penalty of perjury that every member of congress complete their...
137
137
Jul 26, 2012
07/12
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what did it cost american families and what would happen if we had another in debt ceiling crisis? if we went over the cliff again in terms of the suffering an increase in debt and deficit and unemployment, could you explain what the impact was and what couldn't be a free cannot come forward within a reasonable agreement? >> the threat of default was very damaging. it caused economic growth to slow. it cost stock prices to fall sharply, doing a lot of damage to the savings of the average american. it caused a drop in business confidence. the shock to consumer confidence was larger than you see in a typical recession. very damaging, completely avoidable, and not necessary and would be irresponsible to put the country through that again. >> this may be the last time you testified before us. thank you for your service. >> the chair recognizes the gentleman from north carolina. >> mr. secretary, thank you for being here today. i have said many times that the worst choices i made or the iraq war, which was unnecessary, and the repeal of [inaudible] . i was here with many of my colleague
what did it cost american families and what would happen if we had another in debt ceiling crisis? if we went over the cliff again in terms of the suffering an increase in debt and deficit and unemployment, could you explain what the impact was and what couldn't be a free cannot come forward within a reasonable agreement? >> the threat of default was very damaging. it caused economic growth to slow. it cost stock prices to fall sharply, doing a lot of damage to the savings of the average...
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110
Dec 10, 2013
12/13
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deadline inr february, another debt ceiling shut out as possibly on the horizon. you mentioned adult decisions, what does the business roundtable they got the adult decisions on the debt ceiling? guest: there's nobody in our nation who believes that we should be defaulting, or talking about defaulting on our debt. i do not think republicans and democrats think it would be a good idea to do that. what you have is a hollow threat. at the end of the day, you have to give on it. host: this is what you describe as the imperfect hostage? guest: i did say that once. -- ifffect, if you can't the hostage has to be taken care, and ultimately return, all you are doing is incurring a lot of cost will you care for your hostage. the issue is the spending. imperfect as the sequestration has been provided has had an good effect on bringing down the annual debts. it is highlighting further that the problem is structural long- term entitlement reform. the type of reform that ceos of businesses and roundtables have to think about. i saw it as a governor, and most of the governors in
deadline inr february, another debt ceiling shut out as possibly on the horizon. you mentioned adult decisions, what does the business roundtable they got the adult decisions on the debt ceiling? guest: there's nobody in our nation who believes that we should be defaulting, or talking about defaulting on our debt. i do not think republicans and democrats think it would be a good idea to do that. what you have is a hollow threat. at the end of the day, you have to give on it. host: this is what...
162
162
Jun 18, 2011
06/11
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we're debating raising the debt ceiling! and what's the debt ceiling? that's the right to give congress the authority to borrow more money it doesn't have and keep spending money. what's your opinion on raising the debt ceiling? >> no! >> i knew i was going to like you. i knew it before i walked in here. did you know in the last ten years, congress has raised the debt ceiling ten times. i have been in washington three terms and in that time, we have been asked to raise the debt ceiling about a half dozen times. every time i voted no on raising the debt ceiling,, and right now i will be voting no again because there are no serious cuts. there's only smoke and mirrors. washington, d.c., that game is over. it's over. because do you know -- if you have a dollar in your pocket. take it out. you probably don't. the government is trying to take it out. if you have a dollar, take it out. hold it up. take a good look at that dollar bill, because i want to tell you something, and i know we're getting towards suppertime here and i don't want to diminish your appet
we're debating raising the debt ceiling! and what's the debt ceiling? that's the right to give congress the authority to borrow more money it doesn't have and keep spending money. what's your opinion on raising the debt ceiling? >> no! >> i knew i was going to like you. i knew it before i walked in here. did you know in the last ten years, congress has raised the debt ceiling ten times. i have been in washington three terms and in that time, we have been asked to raise the debt...